The South African rand dropped sharply against the USD and bonds depreciated as Moody’s Investor Services announced its intention to reduce its outlook on the country’s sovereign debt rating. The rating agency cited growth and deficit concerns as reasons for the decision. Moody’s reduced the outlook from ‘stable’; South African debt is rated as BBB+…
Stocks in early trading in Asia slumped on Wednesday after a downward revision of US economic growth in the third quarter and rising yields on Spanish bonds. The US economy grew at a two percent annual rate, 0.5 percent less than its initial estimate, the Commerce Department said. Meanwhile, higher borrowing costs in Spain triggered…
For several months, measures to reduce aid to the Palestinian Authority have been on the minds of many lawmakers in the United States. In August, the measures were actually implemented, effectively cutting off roughly $200m in aid to the PA. In addition, measures were also put in place to freeze the distribution of a further…
While there has been a degree of strain in relations between Syria and Turkey for decades, recent events have created additional stress on an already tenuous relationship. Thanks to Turkish support of a change in the current regime leading Syria, a great deal of unrest has been added to the situation. While, at one point,…
The Republican and Democratic leaders of a 12-member congressional “super committee” are set to declare defeat in a joint statement to be released after three months of talks failed to bridge deep divides over taxes and spending. After a year of bruising budget battles, it is another sign that U.S. lawmakers are too entrenched to…
For the first time since 2009, unemployment in Germany is on the increase. While the increase was minimal, the upward shift was enough to raise concerns about what will happen in the coming months. With internal factors within Germany’s economy, as well as issues that have to do with what is happening in the Eurozone,…
On October 31, Libya gained a new interim president that has proven to be a surprise for those watching the elections. Dr. Abel Rahim al-Keeb, a 61-year old professional with a background in education, electronics and politics was named as interim prime minister by the National Transitional Council. Born to parents living in Sabratha, al-Keeb…
Newly elected president of Kyrgyzstan, Almazbek Atambayev, has made it clear that there is no desire to renew the lease on the US military base located in Bishnek when it expires in 2014. While past leaders, including Kermanbek S. Bakiyev, also balked at continuing to allow an American base to operate in the country, negotiations…
Northern Rock, the nationalised British bank, has become on Thursday the first bailed out lender in the UK to be sold back to the private sector, according to the treasury. The British government has given the go-ahead for the £747m loss-making deal with Richard Branson’s Virgin Money almost four years after Northern Rock’s near collapse….
With more unemployed Americans choosing to retire rather than continue their frustrating job searches, many retirees are currently in the process of downsizing and looking for a new retirement rental lease or piece of real estate. Based on surveys of retirees, the following are cited as the seven most important components of retirement real estate.Cost…
